Food delivery company Zomato has raised another tranche of its targeted $600 million capital infusion. The company, which competes with Swiggy in the hyper-competitive food delivery market, has secured nearly $52 million (Rs 379.97 crore) from New York-based investment firm Kora Investments, according to regulatory filings accessed by Tofler. The current round is part of the ongoing Series J round of funding. “The board of directors in their meeting held on October 6, 2020, had approved the issuance of 12,656 Class J5-1 compulsorily convertible cumulative preference shares to Kora,” the filings read. Zomato’s co-founder Deepinder Goyal in December last year had said that the company is looking to raise up to $600 million in a new funding round.
